I am a REMAX agent in Jacksonville Florida near NAS JAX and Mayport. I work almost exclusivley with the military and I am also a USAA member and veteran. I offer the full 25% rebate to my customers directly so they don't miss out on any of the referral fee. They can still use USAA or any bank they desire. In the Mover Advantage - Cendant take the cut that the member doesn't get and it's about half. See my website at http://www.jacksonvillemilitaryrelocation.com

EEK....I recently went through the pre-approval process with USAA. I didn't think twice when they transferred me to the movers advantage department(partially because we currently live in Japan and It was already 1 in the morning my time). They contacted 2 brokerages on my behalf. I being a bit overwhelmed to begin with didn't think about the cash incentive and assumed (which I tend to do being both the altruistic and optimistic person that I am) that the incentive was like many in this thread have already mentioned paid by the bank to keep their investors out of the hands of inexperienced or shady brokers. I was floored to find that USAA takes a 40%-50% of the brokers commission. I am just utterly dissapointed with my bank. I just want to clarify I do not by any means think the affiliation with USAA is a bad Idea for some as most military members are used to being given step by step instructions and not thinking twice about them (therefore the affiliation could drum up lots of clients and sales) But I personally think I would really prefer to work with a top earning Realtor rather than a top producing Realtor. I was already worried about finding an area realtor that would take a vested interest in my family's home purchase as our purchase price is pretty low and while we have found some great homes in the area they all need work and I need someone to take the time to help me make sure I am not missing anything in terms of the homes safety all while negotiating a price that lets us comfortably afford the repairs that are going to be needed to make the home livable. Of course we eventually hope to be able to afford a bigger better home (and larger Realtor commission). But I think taking such a large chunk of money from the broker is a mistake on the banks half. I think it could lead to careless brokers or ones not as vested in the clients interests as any other Realtor making a full commission.

I am active duty Navy. We have used USAA Movers Advantage 3 times with absolute success. We have been able to choose from two top area Realtors each time, twice going with the #1 Rainmaker in the region. All three times we were able to put our home under contract in 10 days. We are currently entering our fourth evolution with the program. Due to the slow housing market right now I am not expecting such a quick turnaround...but you never know. We have once again been given the opportunity to work with the #1 Realtor in our area and I have every confidence that she will find a buyer at the best price available. USAA promises those who participate a top Real Estate Agent and I have found that to be the case every time. Best wishes to those who are selling homes now or in the near future.

We're in the middle of buying... We are going to use the referred realtor, she is actually very good, but we are not using any usaa mortgage or home product... We have found another lender and are about to move foward and make an offer...Therefore we are not eligable for the typical $950 off closing costs on a 225k house? OR am I wrong? Or is being a USAA member good enough? What are the qualifications for this program?

Any program that allows a real estate agent an opportunity to be able to work with a Buyer or Seller that they would not normally have had is a good idea. Unfortunately for the Buyer or Seller, they may be getting a Real Estate Agent that is not highly qualified or educated to handle the transaction. To gamble a 100k or 999k purchase with the spin of the roulette wheel for which agent you get is not a wise choice by the consumer.
Aloha!

Taking something off the interest rate must be done by the lender. They know their rules. The lender is not giving the USAA rebate even if it looks like they do.. the disclaimer on MoversAdvantage says that the customer must use the assigned realtor to receive the rebate. IT is coming thru the Realtor. I suppose the Realtor could buy down the buyer's loan... The lender should be familiar wtih RESPA... that is where the conflict would occur, unless your state has specific laws. Your state NAR association should have a legal hotline where you could ask the questions. HAGD...

Wouldn't a half percent off the interest rate be considered a rebate of sorts?

USAA is not directly giving the rebates. since they are the lender, that would be a violation of RESPA. They are using Cendant, and if you are a brokerage approved for referrals thru Cendant, and you are giving them a referral fee back, then the client gets their Mover's Advantage rebate from it.

Coldwell Banker is a Cendant corporation entity, thus they use CB almost exclusively, but not when the clients are jumping ship... :-) Carolyn Spence,

Weichert Realtors - The 505 Group, Clovis NM

I received this email from a mortgage company in Hampton Roads:
Have heard that USAA is using some questionable tactics to lure customers in their direction. Please take note of this and also alert your realtors. This time around, they are not just snaking us, but realtors too. When your borrower calls USAA for an insurance quote on a new home purchase – they pass this info on to Coldwell Banker, their realtor relationship to pick up the buyer, as well as offer ½% off the interest rate through Cendant, their inhouse lender. This has happened in Hampton Roads, so be careful and warn your realtors as well.

It looks to me from the responses here, that Movers Advantage asks the Real Estate agent to contribute part of their commission to the client - buyer or seller - in exchange for the business. In Chicago this is called a "Kickback" and is illegal if the buyer/seller is not a licensed realtor. Can someone explain how this business practice is tolerated??

I am a certified Movers Advantage (USAA) realtor with Coldwell Banker United in Sumter SC and Shaw AFB SC area. We do quite q bit of Movers Advantage because of the military coming to this area. I like the program because it requires the realtor to give Service Excellence and I feel that the program has made me a better realtor. although the numerous reports can keep you busy.

Cindi-I am also a certified Movers Advantage USAA/Navy Federal Realtor. It's a great program for the client, although there have been some issues with financing lately-usually not the best rates, and it takes forever to get an approval. Clients like the fact that they can have everything handled at one place and the bonus rebates are a plus. On the agent side-the referral fee hurts and the training twice a year is ridiculous!.

In Virginia Beach and Hampton Roads the Military and Vets can do better than USAA or Navy Federal. I guarantee it and I belong with both companies.

how do you sign up to be a realtor at usaa movers advantage?

We are clients through this program and Chris is right about Coldwell Banker because they are our current realtors. we have thought about just passing up on this program and going with someone else when our contract ends, which is today. It sounds good to get a small discount, but we are ready to move.

I, too, am a USAA Mover's Advantage approved realtor.

I do not have a problem with USAA (or Navy Federal, by the way, with whom I'm also approved) giving a portion of my referral fee to the client. The buyers are typically clients that are relocating, who I would not have a shot with, and the sellers are clients who I can "lock" in place, since I'm USAA approved, in order to get their Mover's Advantage benefits they have to list with an approved agent.

USAA is a great company, and is available not ONLY to current and former military, but to their families and descendants as well. They offer many benefits, and homesales benefits are merely the tip of the iceberg. They have a credit union, insurance services, mortgage services, checking accounts, gas cards, discounts with many major companies... and as membership, they're HIGHLY competitive.

a great company, I can't say enough good things about them.

I think there are pros and cons to this program. As a Realtor I am always willing to give a referral fee. My problem is that the entire amount is not passed on to my clients. Clients believe that this is just a rebate from USAA and not a rebate PLUS a chunk of change from the Realtor to USAA.
The issue that I take with this program is that you are basically "assigned" a Realtor because they were willing to give up the referral. It is not based on how educated or experienced a Realtor is.
I have had more than a few of the following experiences:
My clients are approved through a well known lender, I have been showing them houses and we have locked into a home. They called USAA to get homeowners insurance and instead of just giving them the insurance quote USAA pushed this program onto them convincing them of the rebate, but that I would have to sign up for them to get it.
As a Realtor I do not sign up for these programs because I believe it is perpetuating a fraud. This is not a simple rebate from USAA. If USAA were to say "use one of our Realtors and we are going to take a cut of their commission that they worked hard for, when we get that commission we are going to give you a small fraction of what we get from your realtor...does that sound good to you?" Then I would not have an issue with this program.
My issue is when I am ALREADY the Realtor and USAA knows that my clients are just looking for insurance, they throw this out to them.
By the way Navy Federal Credit Union does the same thing.
I don't agree with these two companies trying to hijack clients already in relationships with Realtors just so they can get a piece of the pie.

I have been trained from USAA Movers Advantage as a agent. This is a great program it is available to those who have been or are currently serving in the armed forces. They offer thier clients a lot of services under the same roof. Such as lending, real estate, movers, and banking it is a "one-stop" shop if you will.

Typically this program will give you some kind of benefits for being a participant in the program. Typically they'll assign an agent to you that has been trained in their program. Also if allowed by law they may offer a rebate to you from your purchase or sale. They may also offer some other benefits such prefered settlement services if allowed by law in you location. A quick call to their mortgage department and they should be able to explain all the benefits to you if you are using them for your loan. This is from their website...

Buy or sell your home with USAA and earn up to $3,100 cash back.
Get up to $1,550 when you buy or sell your home through USAA MoversAdvantage® real estate services. Receive up to $3,100 when you do both. Sell or purchase a home of this value: Receive this cash bonus:
$0 — $99,999 $350.00
$100,000 — $149,999 $650.00
$150,000 — $249,999 $950.00
$250,000 — $399,999 $1,250.00
$400,000+ $1,550.00
You will also receive:
A USAA real estate coordinator to act as your advocate and oversee the entire home-buying process.
Access to a national network of local licensed real estate agents specially selected and certified to assist USAA members.

Carrie, I clicked on your link but nothing came up.

I've helped people with Mover's Advantage before. I am not one of their agents that they refer to, but have given the discounts they typically would to my clients.

Typically Coldwell Banker is their agent of choice. I've had two clients establish relationships with me and ask me to give the Mover's Advantage rebate to them. For a house above 150K it is, I believe, $945. They also help them with a variety of other things such as moving companies and other services.

There is a service their web link is http://www.pcstohill.com/main/usaa_movers_advantage2.html. I am not familiar with their work but I have heard of them. Why do you ask?

Are you referring to the USAA Military Movers Advantage?